Compute the Duration for the Data in This Problem Using

question 8

Multiple Choice

Compute the duration for the data in this problem using a discount rate of 12%. $$\begin{array} { | c | c | } \hline & \text { Cash } \\\hline \text { Year, t } & \text { Flow } \\\hline 1 & 90 \\\hline 2 & 90 \\\hline 3 & 90 \\\hline 3 & 1000 \\\hline\end{array}$$

• A)3.00 years
• B)2.95 years
• C)2.85 years
• D)2.75 years
• E)2.65 years

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Definitions:

Sales

The transactions of selling goods or services.

Scatterplot

A type of graph used in statistics to display values for two variables for a set of data.

Histogram

A histogram is a graphical representation used in statistics that shows the frequency distribution of a dataset by using bars of different heights or lengths.

Appliances Store

An appliances store is a retail establishment specializing in the sale of electrical or mechanical devices used in homes for tasks like cooking, cleaning, or food preservation.